The rate for 15-year loans fell to 3.28 percent, according to Freddie, which is among the lowest ever. The recent rate decline was accelerated by the Federal Reserve’s strategy last week of buying longer termed treasury securities and selling short-term ones to push long-term rates lower. But it looks like the low rates aren’t attracting new buyers or refinancing.
A separate report Thursday from the National Association of Realtors (NAR) said that new housing sales index fell by 1.2 percent last month, and the fall was across the board in all locations in the United States.
A main culprit is the continued high unemployment rate in the country, as well as a bleak economic outlook, which is causing many families to postpone purchasing plans.
